You can never succeed in a small business by going it alone. You need to have a network of people who you can call on for advice when you are dealing with challenges that are outside your comfort zone. The default advisers used to be accountants and lawyers but the tide is quickly changing.
According to the Accountancy Age blog, young entrepreneurs no longer trust accountants. In a recent survey, 73% of young people said that they do not trust accountants. Is it that we think we can do it all on our own or are we afraid to ask for help?
When I structured my most recent deal, I leaned heavily on both my lawyer and accountant. Together they saved me tens of thousands of dollars in taxes and I could not have done it without them. I also meet with my lawyer on a regular basis to ask her advice on where to take my business and how to structure new partnerships.
If you are not consulting with your lawyers or accountants, who are you turning to for advice to grow your business?